Illustration of simplified system of provisioning of bananas.

Rethinking Economic Literacy: Introducing Systems of Provisioning

ByHenny

What if economics lessons didn’t begin with abstract supply and demand models, but with simple questions like: How do we stay warm, get dressed, or drink clean water? This article introduces the idea of ‘systems of provisioning’ — practical frameworks that help students see how the economy is woven into daily life and embedded in society and nature. By tracing how different needs are organised and comparing how choices ripple through people, resources and institutions, learners build real-world understanding and the reflective skills they need to navigate — and help shape — the economy of tomorrow.

Welfare is a Stock, GDP is a Flow
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Welfare is a Stock, GDP is a Flow

ByHenny

I am not exactly sure if I heard him say it in his talk on 6 May 2021 as part of a series broadcasted by the Oxford Martin School, or if I read it in the first pages of his review, but it did provoke a train of thought, Sir Partha Dasgupta’s statement that “Welfare cannot be measured by GDP, since Welfare is a stock and GDP is a flow”.

Systems of Provision Approach
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Systems of Provision Approach

ByHenny

Last weekend I watched an online lecture with the title “How We Got Addicted to Cars” brought by the University of Utrecht. The lecturer was the economist Julia Steinberger, Professor of Social Ecology and Ecological Economics at the University of Leeds. 
I took something away from this lecture, that is much more profound to me than our addiction to cars, and very much in tune with the doughnut framework: The Systems of Provision Approach.

When you know your economy
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When you know your economy

ByHenny

The social foundation offers ample possibilities to connect financial and economic literacy, like health, education, food, water, energy and housing. These elements correspond with economic sectors in which students engage now, and will engage more when they take the next step in their lives and have responsibility for their own household budget. That is how we came up with the idea of a series of lessons called ‘Know Your Economy’.